Oil prices jump over $2 ahead of OPEC-plus meeting to discuss output cut

LONDON (Reuters) -Oil prices rose more than $2 a barrel on Monday, extending gains as investors eyed possible moves by OPEC+ producers to cut output and support prices at a meeting later in the day.

Brent crude futures advanced by $2.43, or 2.6%, to $95.45 a barrel by 0850 GMT after rising 0.7% on Friday. U.S. West Texas Intermediate crude was up $2.21, or 2.5%, at $89.08 after a 0.3% gain in the previous session.

U.S. markets are closed for a public holiday on Monday.

At their meeting later on Monday, the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, will discuss oil output cuts of 100,000 barrels per day among other options, sources from the group told Reuters.